Government selling down its green energy fund holding

 
Adam Hignett
THE GOVERNMENT is planning to wind down its stake in the renewables infrastructure fund Greencoat UK Wind, taking home up to £42m in the process.

The government invested in the launch of the company in 2013 as part of its drive to build a market for renewable energy assets.

The company has floated on the London Stock Exchange, raising £260m to buy six wind-farms from energy firms SSE and RWE.

The oversubscribed float was used to secure investment for the UK’s aging energy infrastructure.

Business secretary Vince Cable said: “We wanted to allow developers to recycle their capital into new renewable construction projects and to help grow this important sector.

“This sector is now well-established, with six listed renewables infrastructure funds worth more than £1.7bn”.

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